Increasing Occurrence Rate of Natural Disasters Fueling Growth of Global GIS in Disaster Management Market

The global geographic information system (GIS) in disaster management market was valued at $2.3 billion in 2019. Furthermore, the market will advance at a CAGR of 13.7% from 2020 to 2030 and it is predicted to reach a value of $9.4 billion by 2030. The factors driving the advancement of the market are the increasing occurrence rate of natural disasters and the growing public awareness about mitigating the socioeconomic impact of various natural disasters.

The GIS technology is being extensively used for emergency and disaster management applications such as the assessment of safe and secure shelter areas, the evaluation of emergency supply distribution, the identification of the potential impact of natural disaster on bridges, buildings, and roads, and the real-time monitoring and tracking of various early-warning signals. As per the Weather, Climate, and Catastrophe Insight: 2019 Annual Report, in 2019, 409 natural disasters occurred all over the world.

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Moreover, these disasters caused financial losses of as much as $232 billion. Apart from the high occurrence rate of natural disasters, the increasing adoption of the GIS technology by various government emergency management companies is also propelling the advancement of the GIS in disaster management market across the world. This is credited to the growing requirement for the deployment of advanced technologies for effectively managing various disaster situations, handling several search and rescue operations, and predicting emergency situations.

GIS technologies help authorities make important decisions during emergency situations. For example, the southeastern U.S. states such as Alabama, Georgia, and Florida were affected by over 30 tornadoes in March 2019. This made emergency management organizations such as the National Weather Service (NWS) and the NOAA adopt the GIS technology for tracking and mapping the path of these tornadoes, in terms of their end and start points, lengths, and their wind magnitudes.

Based on offering, the GIS in disaster management market is divided into services and solutions. Between these, the solutions category recorded higher growth in the market during the last few years. This is primarily attributed to the surging demand for effective disaster management planning and the growing need for real-time geospatial insights for smarter, data-driven, and evidence-backed decision making in various industries such as construction, energy and utilities, and oil and gas.

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Across the globe, the GIS in disaster management market will exhibit the fastest growth in Asia-Pacific (APAC) in the forthcoming years, as per the estimates of P&S Intelligence, a market research company based in India. This will be primarily because of the growing prevalence of natural disasters in regional countries such as India, China, the Philippines, South Korea, and Japan, the rising necessity for effective disaster management preparation, and the growing public awareness about GIS technologies in the region.

Hence, it can be said with surety that the market will register huge expansion across the world in the upcoming years, mainly because of the ballooning occurrence rate of natural disasters and the rising requirement for effective disaster management methods.

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This release was published on openPR.